Dozens of state-legal marijuana business owners and representatives from all over the country converged on Washington D.C. yesterday to pitch The Small Business Tax Equity Act to members of the U.S. House and Senate.
The bill – a brief, single page addendum to current tax laws – fixes current tax laws in the United States to allow for medical marijuana businesses to take the same deductions as other legal businesses are allowed to take on their federal returns. Currently, they are stuck paying the entire bill, which some say nearly doubles what they should really owe the government.